Auto output boosts US industrial output
A jump in output of autos fuelled higher industrial production in February, the US Federal Reserve (FED) said. US industrial output rose 0.3% in February, in line with economists' expectations. In addition, revised industrial output figures for January indicate a 0.1% increase. This means industrial output has now risen for five consecutive months. The FED also indicated that the capacity utilization rate rose from a revised 79.2% in January to 79.4% in February. Consumer goods production rose 1.1% in February, after falling 0.5% in January. The index for durable consumer goods rose 3.6%, driven gains in the output of automotive products and home electronics. Output of motor vehicles and parts rose 5.1% in February.